RATE Group | Man charged over cryptocurrency investment fraud
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Man charged over cryptocurrency investment fraud

13 May Man charged over cryptocurrency investment fraud

Posted at 10:39h in Cryptocurrency News by

KOTA KINABALU (Bernama): A man has pleaded not guilty in the Magistrate’s Court here to two counts of illegal deposit taking activities related to cryptocurrency investments amounting to RM425,710.

On the first count, the accused, Mohd Wannor Ramdan Awang, 25, was charged with deceiving a victim at a restaurant here, between July to September last year, to invest RM392,860, without a valid licence, as stipulated under Section 10 of the Financial Services Act 2013.

The accused was charged with committing the offence by deceiving the victim into depositing the sum into his bank account.

He was charged under Section 137 (1) of the Financial Services Act 2013 and punishable under Section 137 (2) of the same law, which carries a maximum jail term of 10 years or a fine of up to RM50mil or both if convicted.

Magistrate Jessica Ombou Kakayun on Wednesday (May 13) allowed RM12,000 bail in four sureties and set…

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